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I had someone at work ask me what they should do about their 401k which is worth half of what it was a year ago. I told them that I got out of the market in 01 but, that if I still owned mutual funds, I would sell them today. Take your licking today or take a much bigger one tomorrow because we can't afford the trillions this adminstration is going to spend. Our dollar will be worthless with the morons running the show today. Large money investors know this and that is why the stock market will continue to fall.

Collecting more taxes than is absolutely necessary is legalized robbery. Calvin Coolidge

i'm just glad a lot of those margin magicians took a bath when their house of cards collapsed. serves them right. there was no basis for $140 per barrel oil other than GREED!-Paul

Why must those in unions only see the world through class envy? The sad thing is, the market corrected, but in your eyes the class envy is still alive.

I'd never expect to change your views on anything, Paul. But when the bill your administration has foisted on this nation starts into the inflationary stage, then you will see how much it has...and will...cost you. You won't have to wait for your children to be clobbered.

Hope you have a cellar full of Kuggerrands and Morgans.

BTW, if you check the time lines, I think you'll find I was the earliest poster on board, warning of the bank problems. But then, your main thoughts were in getting President Bush ousted any way you could. Congratulations. "Mission accomplished." That's gotta make you happy.

UB

When the one you love becomes a memory, that memory becomes a treasure.

I had someone at work ask me what they should do about their 401k which is worth half of what it was a year ago. I told them that I got out of the market in 01 but, that if I still owned mutual funds, I would sell them today. Take your licking today or take a much bigger one tomorrow because we can't afford the trillions this adminstration is going to spend. Our dollar will be worthless with the morons running the show today. Large money investors know this and that is why the stock market will continue to fall.

Booty, I think you are giving bad advice - there has been considerable money made since 2001 & you can't share in the inflationary trends if you have no inflationary sensitive investments. Right now the shakeout is from those who only thought markets go up.

I have been selectively purchasing on drops & have several stocks (our own little mutual fund) now that I believe to be potential 2-10 bangers, hopefully even better than that. Some won't make it but those that do will more than compensate for the small losses. I really try to buy good stocks (not the market flavor of the day) & hatch them. Having grown up on a dryland farm I fully understand that all crops planted will not be harvested.

Now, my reason for believing this is there is more mental horsepower in the private sector than in the public sector, if they can get a set of rules in place, & they will, it will be off to the races. The people that caused this knew exactly what they were doing (the private sector, that is), while those in the public sector were only happy to share in the wealth while it was available. I personally do not believe we have anyone in charge on the public sector side with the mental capability &/or experience to set policy & procedure to deal with these outbreaks. & that's what would need to be done.

In the meantime, as a relatively little guy I will hang around & pick up the crumbs. It's a little like betting on the Giants to go all the way last year - you have to step to the plate because you believe the odds & the players will only create a winning combination.

Ok...I know this is a dumb question...the Dow can only go to ZERO...Right?

As I understand the 30 stocks that make the DOW would have to go to zero, but some of these stocks are profitable. Some of thebanks receiving the bailout are close. Citi is about $2/share and Bank of America a little over $3.
If this statement about going to zero was in jest well than ... nevermind.

cave canem...beware of the dog
Richard Halstead (halst001 at yahoo.com)

Booty, I think you are giving bad advice - there has been considerable money made since 2001 & you can't share in the inflationary trends if you have no inflationary sensitive investments. Right now the shakeout is from those who only thought markets go up.

I have been selectively purchasing on drops & have several stocks (our own little mutual fund) now that I believe to be potential 2-10 bangers, hopefully even better than that. Some won't make it but those that do will more than compensate for the small losses. I really try to buy good stocks (not the market flavor of the day) & hatch them. Having grown up on a dryland farm I fully understand that all crops planted will not be harvested.

Now, my reason for believing this is there is more mental horsepower in the private sector than in the public sector, if they can get a set of rules in place, & they will, it will be off to the races. The people that caused this knew exactly what they were doing (the private sector, that is), while those in the public sector were only happy to share in the wealth while it was available. I personally do not believe we have anyone in charge on the public sector side with the mental capability &/or experience to set policy & procedure to deal with these outbreaks. & that's what would need to be done.

In the meantime, as a relatively little guy I will hang around & pick up the crumbs. It's a little like betting on the Giants to go all the way last year - you have to step to the plate because you believe the odds & the players will only create a winning combination.

Good Post marvin. I am curious as to what companies you are backing long? You can PM me if you prefer. I have been doing a ton of research as I am 90 percent sidelined until I see some positive signals.

I do believe that we have not seen the bottom of the market yet. I was actually impressed with the bounce back off of the lows on Friday but America is looking for some type of direction to get out of this mess. I too believe that we will see the DJIA in the 6200-6500, S&P below 700 range before we start our up trend.